Industry Insights

The global books market size was valued at USD 115.0 billion in 2016 and is expected to grow at a CAGR of 0.9% over the forecast period. The increasing consumer spending supported by increasing income is expected to boost market growth. Furthermore, increasing innovation in the market, which is anticipated to enhance the reading experience is expected to boost the demand over the forecast period.

It has been estimated the global consumer expenditure will growth at a rate of 3.0% year on year from 2016. The consumer spending will increase in developed economies such as the U.S. and Japan due the fall in unemployment rates. Additionally, wages and salaries will continue to increase during the forecast period, thus driving the consumer spending. With increasing consumer spending on durable items the sales of this industry are anticipated to increase.

Small, independent publishing houses are taking advantage of technological advancement and are printing books on demand. Companies such as IngramSpark and Kindle Direct Publishing are two such companies. These companies use small presses. Companies can also use technological innovation to enhance the reading experience for the consumer. For instance, J.K Rowling’s Pottermore, makes reading the book an entire visual experience and also involves the readers in the activities.

Product Insights

The books market based on product type is bifurcated into trade and other. Trade books held a lucrative share of 69.8% in 2016. Most of the genres such as fiction, non-fiction, literature, young children are covered under this segment. The buying decision in case of this segment is with the consumer. Publishers are coming up with many innovative techniques to enhance the consumers reading experience. For instance, J.K Rowling’s Pottermore is a digital publishing website which enables the consumers to experience each chapter of the book.

The other segment includes educational publications.The books included in this segment have to be updated periodically. Additionally, majority of the buying decision in this segment is made by government authoritites or school administrators. The students now also have the option of renting textbooks, instead of buying them, which can restrain the growth of the market. Many leading educational book publishers such as Pearson and McGraw- Hill education have witnessed a fall in their revenue due to this trend. In order to overcome this restrain, the companies are shifting their focus to fiction, non-fiction, biographical genres

Regional Insights

North America dominated the industry in 2016. The U.S. publishing industry consists of 2,600 companies and is anticipated to generate approximately USD 30.0 billion by 2025. However, the companies face a highly competitive environment for the leisure time of the consumer. The book publishers face stiff competition from online content such as videos, audio. Hence, the region is losing its market share over the forecast period.

Asia Pacific and Latin America are anticipated to grow with the highest CAGR over the forecast period. This growth rate can be attributed to the increasing number of small independent local publishers. Additionally, the countries in this region are now following the copy right regulations, thus, many international books are now available in these regions.

Books Market Share Insights

Some of the key players in this market include Pearson, McGraw-Hill Publications, Penguin Random House, Hachette Livre, Thomas Reuters, Elsiever, HarperCollins, Bloomsbury, and Scholastic. Collaborations, service portfolio expansion and merger & acquisitions are key strategic undertakings by these players.

For instance, in 2017, Penguin Random House announced that it would publish a series of adult and children books based on the ‘Avatar’ film series. This is anticipated to increase the revenue of the company by capitalizing on the fame of the movie.

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Segments Covered in the Report

This report forecasts revenue growth at global, regional & country levels and provides an analysis on the latest trends and opportunities in each of the sub segments from 2013 to 2025. For the purpose of this study, Grand View Research has segmented the Books market on the basis of product and region: